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-0.000185356811862799 0.00166821130676546 0.00546802594995369 0.00778498609823914 0.0108433734939759 0.00834105653382767 0.00778498609823914 0.0101019462465246
Stock impact report

UPDATE 2-Oil and gas producer EQT to buy Rice Energy in $6.7 bln deal [Reuters]

EQT Corporation (EQT) 
Last eqt corporation earnings: 2/27 06:30 am Check Earnings Report
Company Research Source: Reuters
Oil and gas producer EQT to buy Rice Energy in $6.7 billion dealn"U.S. oil and gas company EQT Corp (EQT.N) said on Monday it would buy Rice Energy (RICE.N) for $6.7 billion (5.24 billion pounds) in its biggest deal ever, as it looks to expand its natural gas business.Rice Energy's shares surged more than 24 percent to $24.47 in early trading, but below the $27.05 per share offered by EQT. EQT's shares were down 9.4 percent.The deal comes at a time when U.S. energy firms are pumping in money to develop facilities in gas-rich states like Pennsylvania, West Virginia and Ohio as the country prepares to become the world's top natural gas exporter.EQT said it would be able to drill longer horizontal wells in Pennsylvania after the deal as most of the acquired acreage is next to where EQT already drills or owns land."EQT is a decade behind in fracking technology used by industry leaders in Marcellus/Utica," said Dallas Salazar, CEO of energy consulting firm Atlas Consulting. "EQT needs a lo Show less Read more
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